LONDON (Reuters) - A new standard for carbon emission
offsets launched on Monday seeks to increase transparency and
quality assurance in the unregulated voluntary market.

The Voluntary Carbon Standard (VCS), one of several sets of
international guidelines introduced recently, aims to certify
the validity of voluntary offsets, or VERs, bought by consumers
and corporations seeking to reduce their planet-warming
greenhouse gas emissions, or 'carbon footprint'.

The slew of new standards come after allegations of fraud
and double-counting amongst carbon offset venders sent
shockwaves through the carbon market earlier this year.

"The VCS means business and consumer buyers can now trust
the offsets they buy," Mark Kenber, policy director for
environmental consultants The Climate Group, said in a
statement.

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"Its robust quality assurance will trigger a new global
confidence in the voluntary market from corporate buyers,
consumers and policy makers."

The standard, endorsed by the International Organization
for Standardization (ISO), guarantees permanent emissions
reductions that have been independently verified and
incorporates a registry that prevents vendors from selling the
same offsets twice.

The VCS was developed after a two-year consultation
including The Climate Group, the International Emissions
Trading Assocation (IETA) and the World Business Council for
Sustainable Development.

"While the main action must be in regulatory approaches,
voluntary actions and offsets have an important role to play,
and the VCS will provide them with necessary credibility," IETA
President Andrei Marcu said.